LTC through the roof! Litecoin infos

For those of you interested in Litecoin, here some infos and market recap

Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority.

While inspired by, and in most regards technically nearly identical to Bitcoin (BTC), Litecoin has some technical improvements over Bitcoin, and most other major cryptocurrencies, such as the adoption of Segregated Witness, and the Lightning Network.

These effectively allow a greater number of transactions to be processed by the network in a given time, reducing potential bottlenecks, as seen with Bitcoin. Litecoin also has almost zero payment cost and facilitates payments approximately four times faster than Bitcoin.

Differences from Bitcoin

Litecoin is different in some ways from Bitcoin.

The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes, which its developers claim allows for faster transaction confirmation.

Litecoin uses scrypt in its proof-of-work algorithm, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.

Due to Litecoin's use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.

LTC is now attempting to break the 60$ mark with a total market cap of almost $3.200.000.000. It is still in the top 5 list of cryptos in market caps and right behind the other Bitcoin hard fork coin Bitcoin Cash.

Those of you who own LTC, how do you like this coin? Let the community know.

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Data by wikipedia and coinmarketcap.com - my charting by tradingview.com